For BofA, billions more in legal costs from crisis

CNBC's Kayla Tausche has the numbers on how much it will cost the big bank to cover its legal fees, which includes $14 billion of reserves to handle litigation issues.

Bank of America CEO Brian Moynihan said the bank faces up to an additional $9 billion in litigation costs related to the financial crisis and mortgages beyond what it holds in reserves. The bank has $14 billion of reserves to cover rep and warranty claims for bad mortgages.

Moynihan was speaking at the Goldman Sachs Financial Services Conference in Manhattan today.

BofA has already paid $43 billion in litigation and repurchase costs related to mortgages, according to Moynihan's presentation.

But that has settled a lot of key mortgage issues for BofA. One of the biggest is the bank's exposure to claims from Fannie Mae and Freddie Mac for mortgages they bought from various units of BofA.

In addition, BofA has settled claims from mortgage insurers MBIA, Assured Guaranty and Syncora, which insured mortgages that went bad. BofA's costs also include claims from investors in mortgage-backed securities created with bad loans from Countrywide Financial, which BofA bought in 2008.